Romelle Woods and Ahti Indihar each own small businesses. Ms. Woods prepares an income statement and balance sheet at the end of each day for her business, in order to make business decisions. Mr. Indihar prepares an income statement and balance sheet for his business only at the end of each one year fiscal period, when preparing tax reports. Which owner is using the better procedure? Explain your answer.

This exercise illustrates that poor quality can affect schedules and costs. a manufacturing process has 130 customer orders to fill. each order requires one component part that is purchased from a supplier. however, typically, 3% of the components are identified as defective, and the components can be assumed to be independent. (a) if the manufacturer stocks 130 components, what is the probability that the 130 orders can be filled without reordering components? (b) if the manufacturer stocks 132 components, what is the probability that the 130 orders can be filled without reordering components? (c) if the manufacturer stocks 135 components, what is the probability that the 130 orders can be filled without reordering components?